Western Africa: Market for Condensed Or Evaporated Milk (Sweetened) 2024

Market Size for Condensed Or Evaporated Milk (Sweetened) in Western Africa

The West African market for condensed or evaporated milk (sweetened) totaled $X in 2022, rising by 2.1% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Production of Condensed Or Evaporated Milk (Sweetened) in Western Africa

In value terms, sweetened condensed and evaporated milk production expanded remarkably to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 29% against the previous year. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Exports of Condensed Or Evaporated Milk (Sweetened)

Exports in Western Africa

In 2022, shipments abroad of condensed or evaporated milk (sweetened) increased by 33% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, exports enjoyed a prominent increase. The growth pace was the most rapid in 2014 with an increase of 74%. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, sweetened condensed and evaporated milk exports surged to $X in 2022. In general, exports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2014 with an increase of 101% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Togo prevails in exports structure, amounting to X tons, which was approx. 94% of total exports in 2022. The following exporters - Senegal (X tons) and Ghana (X tons) - each reached a 4.2% share of total exports.

Exports from Togo increased at an average annual rate of +15.1% from 2012 to 2022. At the same time, Senegal (+60.2%) and Ghana (+11.8%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +60.2% from 2012-2022. Togo (+25 p.p.) and Senegal (+2.2 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Togo ($X) remains the largest sweetened condensed and evaporated milk supplier in Western Africa, comprising 84% of total exports. The second position in the ranking was held by Ghana ($X), with a 6.1% share of total exports.

In Togo, sweetened condensed and evaporated milk exports increased at an average annual rate of +13.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Ghana (+22.8% per year) and Senegal (+56.5% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, shrinking by -1.6% against the previous year. Overall, the export price continues to indicate a pronounced decline. The most prominent rate of growth was recorded in 2014 an increase of 16% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+9.8%), while the other leaders experienced a decline in the export price figures.

Imports of Condensed Or Evaporated Milk (Sweetened)

Imports in Western Africa

Sweetened condensed and evaporated milk imports was estimated at X tons in 2022, remaining constant against 2021 figures. Total imports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +81.0% against 2018 indices. The most prominent rate of growth was recorded in 2021 with an increase of 77% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, sweetened condensed and evaporated milk imports dropped to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 100%. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Burkina Faso (X tons) and Togo (X tons) represented roughly 56% of total imports in 2022. Cote d'Ivoire (X tons) took the next position in the ranking, distantly followed by Nigeria (X tons) and Ghana (X tons). All these countries together held near 25% share of total imports. Mali (X tons) and Mauritania (X tons) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Cote d'Ivoire (with a CAGR of +21.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Burkina Faso ($X), Cote d'Ivoire ($X) and Togo ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 53% share of total imports.

Cote d'Ivoire, with a CAGR of +16.3%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, falling by -13.1% against the previous year. In general, the import price showed a perceptible descent. The pace of growth appeared the most rapid in 2014 an increase of 23% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Mauritania ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mauritania (+6.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :